Real Time Locating
Systems (RTLS) solutions are utilized for tracking the location of a
target in real time basis. RTLS is different from Radio Frequency
Identification (RFID) though they are mostly perceived to be the same
solutions. RFID utilizes signal transmission between two or more
devices, for locating the target. RTLS, on the other hand,
automatically identifies the target and track its location on a real
time basis. Additionally, RTLS can track the movement of the target,
when it is supported by a computer application. The degree of
accuracy is dependent on the type of software solution chosen for
tracking the target, utilizing RTLS. In contrast, RFID technology can
be either active or passive. Passive RFID provides point-in-time
location, in presence of specialized RFID readers. Active RFID sends
out signals to a specialized reader at constant time intervals which
is then utilized by specialized software solutions to find the
location of the tagged target. Hence real time tracking is not always
possible by RFID technology. RTLS was created with the target of
creating a technology which has the capability to identify the target
automatically and also allows for real time viewing of the target’s
location, through a computer.
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The market for real
time locating system is primarily been driven by the growing demand
of these systems in healthcare sector. RTLS allows for high accuracy
real time monitoring, and hence is highly beneficial for tracking
patients, equipments and hospital staffs among others. It is deemed
to be extremely beneficial for emergency evacuation procedures, as it
can aid in accounting for all the members present inside the
building. Also, advanced RTLS systems can send alerts when certain
parameters are not met, such as when any medical equipment is not
returned to its original place within stipulated time, RTLS can
activate a warning signal to alert the responsible person. Such
applications have been positively impacting the growth of the market.
Additionally, RTLS is finding increasing application in warehouses,
correctional facilities, and retail stores, among others, where it
aids in immediate location of the target and tracking of any
misplaced items among others. This in turn has been further fuelling
the growth of the market. However, several reports on privacy related
concerns have been hampering the growth of the RTLS market.
Additionally, RTLS systems can often provide erroneous data, owing to
lack in signal strength or any other such issues. This again has been
hampering the growth of the RTLS market. Considering the benefits
offered by RTLS systems and their growing applications across
different industry verticals, the global RTLS market can be expected
to grow at a good pace during the forecast period.
On the basis of
architecture, the market for RTLS has been segmented into hardware
and software. Hardware includes RTLS tags and computer systems among
others. The software segment is expected to maintain its fast growth
pace, during the forecast period. On the basis of connective
technology, the market is segmented into four segments. They are
Bluetooth Low Energy (BLE), Wi-Fi, infrared and others. BLE is
expected to be the fastest growing segment, during the forecast
period. By end use industry, the market has been segmented into
healthcare, retail, transportation & logistics, manufacturing and
others. The global market for RF RTLS, by region, has been segmented
into five major regions. They are North America, Europe, Asia Pacific
(APAC), South America and Middle-East & Africa (MEA). North
America had the largest market share in 2016, owing to growing
applications of RTLS across different industry verticals.
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The major companies
of the RTLS market globally are Kontact.io, Inc. (The U.S.), CenTrak,
Inc. (The U.S.), and Versus Technology, Inc. (The U.S.) among various
other companies.
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